Tata Housing
In view of the huge business avenues in the country's real estate sector in the near future, Tata Housing, plans to invest a staggering sum worth Rs 3,000cr to acquire more land parcels including joint development agreements across country's major cities in the current financial year during which it is keen to invest at least 50-60 % more on land acquisition and joint development agreements, Managing Director & CEO, Brotin Banerjee, said, adding that his company will focus on four metros -- Bangalore, Kolkata, Delhi NCR, and Mumbai -- for its land purchases and new projects, both in the premium and affordable categories. In its scheme of things, the new premium homes will cost between Rs 6,500 and Rs 12,000 per sq ft, spreading over 900-3500 sq ft each, depending on the location, whereas affordable homes will be under Rs 40 lakh, between 450 and 1250 sq ft. Around 65% of the planned launches will be in the premium segment, while the rest will be in the affordable category largely depending on availability of land parcels.

The move will help Tata Realty add 90 million sq ft of additional property in the next one year through new launches. Currently, the Mumbai-based realty firm has around 70 million sq feet under various stages of development across 8 states of which 70 million and about 17-20 million sq feet was added last year. The realty firm has been buying land since last year, with major land parcels like 7 acres from KEC international in Thane; 20 acres in Bangalore from Alstom T&D India; 1.3 acres at Hailey Road in Delhi and another land parcel at Rajarhat in Kolkata. As of now it has realty projects under construction in areas like Mumbai, Pune, Ahmedabad, Goa, Bengaluru, Chennai, Gurgaon, Chandigarh, Kolkata and Bhubaneswar and is also exploring international markets, including Sri Lanka and other South Asian countries after venturing into Maldives, he added.